The post Tesla’s Bitcoin Bet Pays Off: $1 Billion in Holdings See Massive Growth appeared first on Coinpedia Fintech News
Tesla’s Bitcoin bet is paying off, with the company’s holdings more than doubling in value this year. Currently, Tesla holds 11,509 BTC, now worth over $1 billion, as Bitcoin reached an all-time high of $89,560. Tesla’s original $1.5 billion Bitcoin purchase in February 2021 has grown by $495 million in profit, largely due to the soaring crypto market. This surge is part of the broader rise in Bitcoin’s value, which has pushed the cryptocurrency’s market cap to $1.75 trillion. With Bitcoin’s price increasing over 40% this month, Tesla’s stock also saw an 8% jump, boosting CEO Elon Musk’s wealth to $320 billion.